2013 New York State Business Plan Competition
Entrepreneurial Courses at SUNYIT
Begining in the spring semester of 2013, SUNYIT will offer a two course entrepreneurial program. ITS 303/BUS 303 What's the Big Idea will be offered in the fall semester and ITS 304/BUS 304 will be offered in the spring semester
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ITS 303/BUS 303 What's the Big Idea
COURSE OVERVIEW:
Learn how to develop, grow and vet ideas to create a product, service or business. Each week, students will be presented with and engage in discussion about topics specific to the development of ideas into viable products, services or businesses, an understanding of customers, consumers and users and a firm grasp of the concept of "the marketplace." Guest experts on each topic will share their insights and be present to respond and advise.
The semester will be composed of three main phases. The first phase will be focused on generating, developing and building student ideas, guided by creativity exercises, market situations and basic business fundamentals. The second phase will focus on refining ideas, based on "customer" and/or "user" needs, wants and interests. The third phase will focus on team formation, idea refinement and presentation with an eye towards the building of both a proof of concept and foundation for a business.
The semester will conclude with a final presentation of student ideas to a community of investors, experienced entrepreneurs and subject matter experts. Student teams with ideas viewed to have business potential will be invited to participate in a highly-focused Spring semester where ideas will be further analyzed and sculpted into actionable plans, with the potential of being funded and transitioned into the Fort Schuyler Sandbox.
Ideas viewed to be promising and viable ventures will be further analyzed for potential support via the Fort Schuyler Management Corporation.
LEARNING OBJECTIVES:
Learn how to generate, develop, grow and vet new product, service and business ideas.
Learn how ideas are formed and grown.
Understand what makes some ideas more business appropriate than others.
Be able to conceptualize and present a business idea to potential stakeholders and supporters (employees, co-workers, family, friends, partners and investors).
Learn how to focus your idea on your people's needs and wants.
Learn how to understand the competition better and find opportunities that are missed (and needed) in a market
Learn how to best form a team that can bring an idea to a reality
Learn how to scope and present the necessary resources
Have a tangible understanding of your next step towards making your idea a reality.
THE COLLECTIVE FOCUS AND GOAL OF THE CLASS IS TO DEVELOP 30 IDEAS THAT WE CAN SAY THE FOLLOWING ABOUT:
Our idea will positively impact peoples' lives because it directly addresses a specific 'need', 'problem' and/or 'want.' Our idea has the potential to be a sustainable business (for-profit or not-for-profit) – or a sustainable product or service within a business. Our idea is a BIG idea. We love our idea and are able to develop it so that others will love it as much as we do. Our idea has a team The presentation of our idea was both clear and professional. The presentation alone instills a sense of confidence in the abilities and passion of the team. with the collective skills, experience and/or education to get it done. Our idea has a team that can clearly and comprehensively present the external resources they will need to develop and grow the idea into reality: SPECIFICALLY, to the point of (1) an actionable business plan by the end of the following Spring semester and (2) a proof of concept by either the following Spring or Summer of next year.
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ITS 304/BUS 304
COURSE OVERVIEW:
This course is focused on helping students establish an actionable plan for the first 6 months after the official launch of their business. While a bigger vision of where the business could go will be required (including a sense of market potential and longer term plan), it is assumed that most business plans are dated within the first few months of a startup. Thus, efforts will be focused on establishing a well-conceived, achievable and actionable path to market. Efforts will also be focused on developing a viable plan for or actually building out of a proof of concept or demo of their product/service, as it will also be assumed that the lack of experience of most participants will work against them upon launching their business unless they can prove both their concept and themselves through the development of an actual product or service structure. It will also be assumed that most teams will be required to bootstrap their way to a successful venture, but with substantial guidance given on how to effectively organize and deliver their pitch to either potential partners or investors.The semester will be composed of three main phases. The first phase will be focused on developing a foundation of basic business fundamentals upon which to build their overall business plan—with an emphasis on their path to market. The second phase will focus on practical matters associated with developing core technologies, proof of concepts and prototypes. The third and final phase will focus on strategies for obtaining the necessary resources and/or capital for pursuing their idea. The semester will conclude with a final presentation of their plan to a panel of angel investors and venture capitalists. Ideas viewed to be promising and viable ventures will be further analyzed for potential support via the Fort Schuyler Management Corporation.
OBJECTIVES:
Establish clear expectations of the first 4 – 6 months of your business.
Develop an actionable plan with a clear path to market. *
Develop a plan for or development of a proof of concept or demo. *
Be positioned to either go to market, pursue investors or enter into various incubators. Gain an actionable sense of how to turn your business idea into a REALITY.
* The Business Plan created in this course can be entered into the New York State Business Plan Competition. The Competition can be used to refine the business plan, pitch the venture to potential investors and to fund the venture with cash prizes.